Applying for a charity license (commonly known as the "Section 88") has never been an easy task. It requires detailed planning in advance. Our company's fastest record is to successfully obtain section 88 in four months. What’s the secret? Let’s reveal it today.
The documents that the Hong Kong Inland Revenue Department relies on for approval are mainly the company's articles of association. The tax bureau has specific requirements in the articles of association, such as the use of funds, the use of profits, the purpose of the company's establishment, management structure, and arrangements for the winding up of the company, etc. Therefore, the company's articles of incorporation need to be tailor-made to ensure that the articles of association can not only meet the tax bureau's requirements for charitable organizations, but also meet the company's financial needs.
Therefore, the establishment of the company will take longer and the fees will be more expensive. Our company will provide professional consulting services, meet with customers, understand the company's purpose, service scope, expected company structure, etc., and then write appropriate articles of association.
I have seen some cases where some friends used old companies that had been established or wrote their own company articles. When applying for the section 88, they were challenged by the tax bureau many times and took a long time, but failed to apply successfully. Later, they asked our company for help. Because the charter does not meet the requirements for applying for a license, it needs to be rewritten and reapplied, which wastes a lot of time and energy.
Our company has a lot of experience in successfully applying for section 88 and can tailor made company articles for customers, saving time and getting approval quickly. If you need to set up a company or apply for section 88, please feel free to contact our company.
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